A loan of P200 000.00 was made from a bank that charges 9% interest rate and should be repaid after 90 days. If payment of P80 000.00 was made after 20 days and the balance on the 906" day, calculate the amount of interest, principal paid for each payment and the total amount paid.
Answers
Answered by
0
Answer:
it is not at all in maths so ur lying this is fool question
Answered by
0
Answer:
6,000
Step-by-step explanation:
Given: Principal for the first year (P)=Rs.20,000,r=12%
We know that A=P(1+
100
r
)
n
Amount after the first year =20,000(1+
100
12
)
1
=20,000(
100
112
)
=Rs.22,400
Money repays at the end of first year =Rs.8,400 (given)
Principal for the second year =Rs.22,400−Rs.8,400
=Rs.14,000
Amount after second year =14,000(1+
100
12
)
1
=Rs.15,680
∴ The loan outstanding at the beginning of the third year
=Rs.15,680−Rs.9,680
=Rs.6,000
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